China has 108 Billionaires

China has more billionaires than any country except the United States, as soaring stocks and property prices helped to boost wealth among the country's super-rich. The number of Chinese worth more than $1 billion had almost 10 fold from 15 to 108 in just 1 year.

The average wealth of those on the list doubled from a year earlier to $562 million growing much faster than in western countries, Rupert Hoogewerf said in his 2007 China "rich list," which ranks the 800 wealthiest individuals in the country.

Here are the top 4 Richest people on the list :

1. Yang Huiyan, 26, tops the list after receiving $17.5 billion from her property developer father.

2. Last year's champion, Zhang Yin, fell to second place even as her wealth tripled to $10 billion

3 Xu Rongmao, owner of Shimao Property Holdings Ltd - $7.5 billion

4. Huang Guangyu, who founded GOME Electrical Appliances Holdings - $6 billion.

Seven of China's 10 richest people are mainly or partly in the real estate business.

Minsheng Banking Corp, the most prominent creator of super-rich of any Chinese company created 9 super rich to the list. Ping An Insurance (Group) Co, China's second-largest life insurer, and Western Mining Co, a zinc and lead miner in China's far-flung western region, were each responsible for the wealth of seven on the list.

With the continuing fast pace of growth in China, it wont be surprising at some point that China will have more Billionaires than any countries in the World and possibly even top the Forbes List of 20 most richest people on earth.